Kinross Gold (K) AGM 2025 summary

Opening remarks and agenda

• Meeting held virtually to enhance shareholder participation and cost efficiency.

• Voting procedures and Q&A process explained, with polls open throughout the meeting.

• Attendance confirmed with over 936 million shares represented, establishing quorum.

• Meeting declared duly constituted, with prior year’s minutes and annual report available upon request.

• Emphasized delivering value and a promising future for stakeholders.

Board and executive committee updates

• Ten director nominees named and elected to serve until the next annual meeting.

• Catherine McLeod-Seltzer announced her retirement as Chair after 20 years, succeeded by Kelly Osborne.

• Senior leadership team includes CEO, CFO, COO, and VPs for technical, development, external affairs, HR, and investor relations.

• Board achievements highlighted, including production growth, asset acquisitions, diversity, and sustainability focus.

Financial performance review

• Produced 2.13 million gold equivalent ounces in 2024, with robust margins of $1,373 per ounce sold.

• Achieved record $2.45 billion in operating cash flow and $1.34 billion in free cash flow.

• $800 million in term loan repaid in 2024, with full repayment after an additional $200 million in Q1 2025.

• Ended 2024 with over $600 million in cash and $2.3 billion in total liquidity.

• Q1 2025 production reached 512,088 ounces, with production costs of $1,043/oz and all-in sustaining cost of $1,355/oz.